Monday, May 13, 2013

MBDA Helps Minority-Owned Businesses

The Minority Business Development Agency (MBDA), operated by the U.S. Department of Commerce, is a good resource for women and other minorities to find support to keep their small businesses alive and growing. The agency has more than 40 business centers throughout the U.S. and small- and medium-sized minority business owners can contact them for a variety of support services.

Through MBDA business center, minority business owners can find resources for capital, technical assistance, contract opportunities and information on new markets. Fresno, California, for example, was the 40th business center recently opened which has $1.5 million in federal grant money they can use to support minority-owned businesses and create jobs in the Valley.
The Centers also provides minority entrepreneurs with assistance in writing business plans, developing marketing programs, and financial planning. Although MBDA itself does not provide loans or grants for small businesses, they provide services that help increase business opportunities. For example, in 2011, MBDA helped Nevada minority-owned businesses obtain three contracts totaling $1,633,932 and $28,185,038 in capital through three transactions.

MBDA Minority Business Centers throughout the United States are good sources for business consulting, procurement matching and financial assistance to minority-owned firms. In 2011, MBDA helped provide almost $11 billion in contracts and capital for minority-owned businesses.